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The issues facing flat owners…
Selling a flat in the UK can be difficult. And selling a flat quickly is even more difficult…
Sellers often face complex market conditions, leasehold issues and legal & administrative issues.
For example, there is strict government guidance on cladding used on flats. Any cladding deemed unsafe must be removed, often at the expense of the leaseholders.
As a result, homebuyers are becoming increasingly reluctant to invest in flats. They fear costs related to safety or the cladding removal, and those who do want to are usually being denied mortgages from lenders.
It is believed more than 30,000 deals have already collapsed due to this issue alone.
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The government requires flat-sellers complete an External Wall System survey (EWS1).
This survey is carried out by a chartered fire engineer. It proves that no dangerous cladding (or any other combustible materials) is present.
The survey provides a grade: A1, A2, A3, B1 or B2.
A1 is the best outcome. It confirms that there are no combustible materials and no work is necessary.
B2 is the worst outcome. It identifies that there is combustible material present. And that significant remedial work is required.
Unfortunately, there is currently a large backlog in these surveys being completed. Flat owners are waiting extended periods of time to get their completed EWS1.
And even with a completed survey, buyers remain apprehensive about purchasing flats. This is especially true of flats without an A1 grade.
Even many other cash buying companies are currently saying no to flats with cladding.
Selling your flat
The government requires flat-sellers complete an External Wall System survey (EWS1).
This survey is carried out by a chartered fire engineer. It proves that no dangerous cladding (or any other combustible materials) is present.
The survey provides a grade: A1, A2, A3, B1 or B2.
A1 is the best outcome. It confirms that there are no combustible materials and no work is necessary.
B2 is the worst outcome. It identifies that there is combustible material present. And that significant remedial work is required.
Unfortunately, there is currently a large backlog in these surveys being completed. Flat owners are waiting extended periods of time to get their completed EWS1.
And even with a completed survey, buyers remain apprehensive about purchasing flats. This is especially true of flats without an A1 grade.
Even many other cash buying companies are currently saying no to flats with cladding.
How we help
At We Buy Any Home, we recognise how difficult this situation is, and we can help.
We can purchase flats that have cladding. And if you have a completed EWS1 form, we will use the grade, and any itemised costs to make you as accurate an offer.
We can then purchase the flat in as little as 7 days.
If you don’t have an EWS1 form completed, we can still but it. However, this would be at lower than the market value.
(Of course, should the EWS1 form be completed in the meantime, we would increase our offer).
Maximising value
Whether you have completed an EWS1 survey or not, we have to forecast costs. These include cladding removal costs. And a calculation of the risks associated with buying the flat.
So, whilst we can provide flat sellers with a way out, the offer may be much less than market value. This is why we are happy to offer a profit share agreement.
This means that if we achieve a higher-than-expected sale price for the flat, we’ll give you a share of the proceeds.
So you can move on with your life, certain that you got the best possible value. Further advice be found on the Royal Institution of Chartered Surveyors and the Institution of Fire Engineers.
Avoiding unnecessary fees
If you don’t want to pay any unnecessary fees when you sell your flat, get in contact with us today. As well as offering a no-fee solution to selling your property, the advantages of selling with us are…
- We provide a fast and easy way to sell your flat.
- We use our own cash funds which means we can buy your property now.
- We offer the quickest way to sell your flat – we can complete in as little as 7 days.
- We are the market leader when it comes to the cash home-buying sector.
- We are a founding member of the National Association of Property Buyers (NAPB) and members of The Property Ombudsman (TPO). This means we follow strict guidelines and offer maximum protection to house sellers.
Popular Areas We Service
We operate across the entire United Kingdom - that means we'll buy any home in England, Scotland, and Wales. We will buy your house fast, wherever you are in the UK.
Free cash offer within minutes, any condition, any location.
Don’t just take our word for it.
View more reviews“The process was so straight forward”
Daisy and Ross from We buy any Home were fantastic. At the start of the process I was sceptical, but I got a very fair price for the property and they were extremely flexible with my completion date. The process was so straight forward. I have moved house a number of times and it has always been very stressful, but this was a breeze. I would definitely use them again.
“Absolutely amazing!”
These guys have been brilliant from start to finish, made our transition to our dream home possible. After we had potential buyers retract their offer on our house for sale several time, We Buy Any Home were able to make our dream come true. Cannot recommend them enough.
Frequently asked questions when buying your flat.
Call our team of experts: 0800 774 0004
Is is easy to sell a flat?
It is common knowledge that flats don’t sell as quickly as houses. However, first time buyers and buy-to-let investors will certainly have their eyes on flats just like yours. But just because there may be interest, you are not guaranteed a sale. We Buy Any Home operate as cash house buyers meaning we can buy your flat for cash.
With 300 years’ combined experience in the property sector, we are operating as the UK’s biggest and most trusted cash house buyer. Simply get a cash offer for your flat today and we will buy it from you using our own funds. We can complete in a timeframe that suits you – in as little as 7 days if you require – and we don’t charge any fees for our service. You can sell your flat stress-free!
Can I sell a flat with a short lease?
Buyers are going to be attracted to flats with longer leases. If you’re trying to sell a flat with a lease under 99 years you will be asked to extend it, and this comes at a cost to you. Some mortgage lenders won’t offer mortgages on flats with leases under 80 years so it is likely a potential buyer could be put off if your lease isn’t over the desired threshold.
When it comes to a short lease it can be difficult to sell your flat quickly on the open market. Fortunately, We Buy Any Home can guarantee you a sale. We offer a cash house buyer service; this means we buy your flat from your (or any property) using our own cash funds, and there are no hidden fees.
Interested? Get a cash offer for your flat today and start the process of selling your flat.
What are the benefits of selling a flat for cash?
Selling your flat to a cash house buyer means you won’t have to waste your precious time facilitating viewings and negotiating a price, like you would on the open market. We Buy Any Home will purchase your flat directly from you using our own cash funds. This straightforward transaction guarantees you a sale and eliminates pitfalls of the open market such as chain breaks or buyers pulling out last minute. If you’d like to sell your flat fast start the process by getting a free cash offer today.
What should I do if my flat isn’t selling?
If you’ve been using a local agent to sell your flat but they haven’t been successful, why not consider a cash house-buying service? By choosing to sell your flat with We Buy Any Home you are guaranteed a sale because we buy your flat directly from you using our own cash funds. We can buy your flat from you in as little as 7 days if you need, or we can work to any timeframe you give us. Our fast flat sale service doesn’t cost a penny and you can begin your route to sale with us today by obtaining a free cash offer online!
How long does it take to sell a flat?
The time it takes to sell a flat can vary based on numerous factors, including the property’s location, condition, price, and the overall state of the market. On average, from the moment you list your flat for sale to the completion of the sale, it could take anywhere from 6 to 12 weeks – not including the time it takes to prepare the flat for sale or to resolve any unforeseen issues that may arise during the process.
However, with We Buy Any Home’s sell flat fast service, you could receive funds within as little as 7 days!
Selling a flat with cladding
When selling a flat with cladding, it’s important to disclose this to potential buyers as it could affect the value and safety of the property. An External Wall Fire Review (EWS1) form may be needed to show the cladding meets safety standards.
Legal advice is recommended to navigate potential issues. It is important to also know that in some cases, properties with unsafe cladding may be difficult to sell until remediation work is carried out.
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